Question

business and society

IJ TT LIlls section (60 MARKS! QUESTION 3 sib Govs Select TEN (10) of the following terms and write a short paragraph on the term that cle to clearly number your answer) 20 Marks ste 3.1 Agrarian Society 3.2 Business Ethics 3.3 Consumerism Cronyism (incorrectly referred to as Crony Capitalism) Cause-related Marketing 3.4 3.5 3.6 Dualism 3.7 Emission Trading Programs 3.8 Environmental Management System 3.9 Epidemiological Study 3.10 Ethical Relativism 3.11 External Costs 3.12 Golden Mean 3.13 Glass Ceiling 3.14 Greenhouse Gases 3.15 Human Development Index (HDI)

Answer 1

10 Terms to be defined.

1. Agrarian society : A society which economically depends on agricultural activities for employment and agricultural output for income.
2. Business ethics: business ethics are set of value system which guides the decision making process in ethical manner.
3. Consumerism: Consumerism is a terms which describe the consumer behaviour where more emphasis is given on greater consumption of goods and service well beyond basis need to goods and services. Eg. Buying 2-3 cars for a family of husband, wife and a small kid is example of consumerism.
4. Cronyism: This term describes a situation where people are appointed in leadership position who are part of friend and family of promoters without considering their qualification and leadership skills.
5. Cause related marketing: This terms describes a situation where a for profit organization works with not for profit organization and the relationship is mutually beneficial where the for profit organization gets more sales and not for profit organization gets its purpose Cause addressed.
6. Dualism: it’s a classification of something in two conceptually different aspects which are opposing and contrasting to each other.
7. Environmental management system: this is a system developed by any organization regarding their policy on environmental protection, it should be well developed, documented and implemented.
8. Ethical relativism: it says that a person’s act will fall under ethical or unethical depends on local moral value or norms which can classify the act as ethical or unethical.
9. External costs: they are the cost because eventually it is the society which pays it, and it is imposed on producer of goods and services (a third party)
10. Greenhouse gases: These are type of gases which absorbs the infrared radiations and cause the green house effect. Eg. Carbon dioxide and CFC (Chloro fluro carbon) are greenhouse gases.